Points and Miles Beginner’s Guide: Financial Products

Brokerage accounts offer lucrative bonus offers on par with credit cards, without the hard inquiry. Applications for these accounts result in a “soft inquiry” on your credit, meaning there is no impact on your credit score.

Last year, I accumulated almost 400,000 miles for myself and my family by taking advantage of these offers:

1. Sharebuilder. Open a new account (no minimums) and earn miles after your first trade. Account must stay open for 3 months. Limit 1 account per person.

500 miles per calendar quarter for subscribing to the Advantage program.

2. Ameritrade Brokerage Account. Ameritrade once offered up to 25,000 miles for opening and funding a new brokerage account. These offers have all expired, but keep an eye out as they may reappear:Starwood Preferred Guest, American, Delta, United, US Airways.

Note: You will receive half your miles within a week and must maintain $2,500 in the account for 6 months to receive the other half.

3.Fidelity Brokerage Account. This is open for new or existing customers. Sign up for an American Airlines, Delta, or Unitedbrokerage account.

$25,000 deposit = 15,000 miles

$50,000 deposit = 25,000 miles

$100,000 deposit = 50,000 miles

Last year, people were able to open both a Delta AND American or United account, but the current terms limit customers to one offer per rolling 12 months.

You have 30 days to fund your account. Previously, miles would post 3 days after funds were deposited and people were able to withdraw the funds after the points had posted, without paying a penalty. However, the current terms state that miles can take up to 8 weeks to post and the account has to remain open for 6 months.

Have you taken advantage of any of these offers? If you’re aware of any other brokerage promos, please post them in the comment section.

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